Phunware (NASDAQ:PHUN) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Phunware (NASDAQ:PHUN) from a hold rating to a sell rating in a research report sent to investors on Sunday.

A number of other brokerages have also issued reports on PHUN. HC Wainwright reiterated a “neutral” rating and set a $2.00 target price on shares of Phunware in a research report on Wednesday, March 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Phunware in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.25.

Phunware Price Performance

Phunware stock opened at $1.67 on Friday. The stock has a 50-day simple moving average of $1.79 and a 200 day simple moving average of $2.15. The stock has a market capitalization of $33.72 million, a price-to-earnings ratio of -2.93 and a beta of 2.64. Phunware has a 12-month low of $1.56 and a 12-month high of $3.88.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. The firm had revenue of $0.79 million for the quarter, compared to analyst estimates of $0.61 million. Phunware had a negative net margin of 446.57% and a negative return on equity of 10.11%. As a group, sell-side analysts anticipate that Phunware will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new position in shares of Phunware in the 3rd quarter valued at about $303,000. Cantor Fitzgerald L. P. bought a new stake in shares of Phunware during the third quarter worth approximately $248,000. Bridgeway Capital Management LLC acquired a new position in Phunware in the third quarter valued at approximately $138,000. XTX Topco Ltd lifted its holdings in Phunware by 177.6% in the fourth quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock valued at $95,000 after buying an additional 32,812 shares during the period. Finally, Bank of America Corp DE boosted its stake in Phunware by 13,900.9% in the third quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after acquiring an additional 30,304 shares during the last quarter. 7.57% of the stock is currently owned by institutional investors and hedge funds.

About Phunware

Phunware, Inc (NASDAQ: PHUN) is a technology company specializing in enterprise mobile software and services. Its unified Mobile Application Platform (MAP) delivers a comprehensive suite of cloud-based solutions designed to engage, monetize and analyze audiences across mobile devices. Through its multi-tenant SaaS architecture, Phunware supports the full lifecycle of mobile applications, from development and content management to user identity and data-driven marketing.

The company’s product offerings include location-based services such as indoor and outdoor mapping, real-time wayfinding, geofencing and proximity notifications.